Estee Lauder got her start selling homemade skin creams to women in hair salons. She founded the Estee Lauder cosmetics firm with her husband in 1946. The publicly-traded company has grown to encompass 30 brands of makeup, including Clinique, Bobbi Brown and MAC, and has minted five billion-dollar fortunes for her descendants: son Leonard (chairman emeritus, pictured above), grandson William (executive chair), son Ronald (chairman of Clinique Laboratories), granddaughter Aerin (board member and style and image director) and granddaughter Jane (board member and Clinique global brand president). Grandson Gary also has a stake and runs a technology investment firm in Silicon Valley. Members of the Lauder family together have 87% of Estee Lauder Inc.'s voting power. Ronald is a former U.S. ambassador to Austria. Both Ronald and Leonard have also made names for themselves as art collectors. More »

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When Estee Lauder founded her eponymous cosmetics firm, hawking blue bottles of skin cream to hair salons in 1946, she couldn’t have known then that the company would one day turn her sons –or her grandchildren — into billionaires. Her two sons each have substantial fortunes from company stock: Leonard (net worth: $9 billion), is the elder and read »

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